Michelle Wu’s impact on Boston landlords?

Question

Hello all, I recently bought a multi family home in East Boston. I’m curious if the “rent control” Michelle Wu speaks of were to pass would it be city wide or certain neighborhoods? Any predictions on what some of the guidelines might look like? Thanks

Ian Martin · Answer

I believe rent control would need to be approved at a state level even if just for the city of Boston. I don't think she can just flip a switch and implement rent control. I could be entirely wrong, and as a landlord in Boston I am very curious to hear more about this as well from people who are more familiar with this topic.

Lien Vuong · Answer

@Ian Martin You're entirely correct. Given the negative experience the city had previously with Rent Control, I don't think it would be a realistic option where all of the legislative members would agree to it.

Nels Frye · Answer

This is awfully optimistic, but I guess one has to be in order to make money. While it's true that Michelle Wu cannot bring in rent control just for Boston, the risk is at the state level. With Baker out next year and a Democrat governor almost inevitable (Republicans will probably run someone too far to the Right to win in MA), Rent Control is most definitely a risk in Massachusetts. Sure, rent control failed before, but that doesn't mean they won't try a new version of it again. Many government efforts to direct the market don't work, but they keep trying them. Younger voters in MA are more likely than ever to support government measures promising to reduce inequality and promote equity, diversity, justice, etc. Once they bring in a bureaucracy that works for these ends in housing, those administrators will become a self-perpetuating entity.

Michelle Wu’s impact on Boston landlords?

Michelle Wu’s impact on Boston landlords?

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